Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
HOTEL INVESTMENT FUND from Middelkerke, company number BE0701732345, closed financial year 2025 with a result of € -117,529 after tax. For that financial year HOTEL INVESTMENT FUND recorded a gross margin of € 561,275 and equity of € 1.9 million. Compared with financial year 2024, the result moved from € -84,440 to € -117,529. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on March 19, 2026.
€ 1.9 million
▼ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -117,529
▼ 39 % more loss than in 2024
Profit after tax over the fiscal year.
€ 34,072
▼ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 25,531.
People and assets in 2025
€ 218,773
▼ 5% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 6.6 million
▼ 5% vs 2024
€ 333,114 is repaid this year. At this pace the long-term loan is gone in ≈ 20 years.
€ 4,454
▼ 15% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,416
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,656,052 | € 265,626 | € 559,288 | € 561,275 | |
| Profit after taxes | € 1,285,355 | € -227,918 | € -84,440 | € -117,529 | ▼ € 33,089 |
| Equity | € 2,303,669 | € 2,075,750 | € 1,991,310 | € 1,873,781 | ▼ 6% |
| Total debts | € 4,906,712 | € 7,304,269 | € 7,345,146 | € 6,975,308 | ▼ 5% |
| Cash | € 318,077 | € 52,329 | € 46,791 | € 34,072 | ▼ 27% |
| Land & buildings | € 5,272,046 | € 6,290,299 | € 6,649,422 | € 6,472,306 | ▼ 3% |
| Retained profit | € 455,419 | € 227,500 | € 143,060 | € 25,531 | ▼ 82% |
| Bank debt | € 3,796,580 | € 6,989,130 | € 6,944,376 | € 6,616,411 | ▼ 5% |
| Balance sheet total | € 7,210,380 | € 9,380,020 | € 9,336,456 | € 8,849,090 | ▼ 5% |
Key figures of HOTEL INVESTMENT FUND, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to HOTEL INVESTMENT FUND?
What happened at HOTEL INVESTMENT FUND in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Vercaemst BV stepped down as director. NBB
- Belcoast Holding BV stepped down as director. NBB
- Devan Holding BV stepped down as director. NBB
- Groep Caenen Holding NV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 117,529. Source: NBB ↗
- Vercaemst BV became a director. NBB
- Belcoast Holding BV became a director. NBB
- Devan Holding BV became a director. NBB
In short
From € 1.3 million profit in 2022 to € 117,529 loss in 2025.
Best year ever: 2022, with € 1.3 million profit.
Management
The stake of GROEP CAENEN HOLDING, BELCOAST HOLDING, VERCAEMST, DEVAN HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
HOTEL INVESTMENT FUNDThe shares are held by GROEP CAENEN HOLDING (35%), BELCOAST HOLDING (25%), VERCAEMST (25%) and DEVAN HOLDING (15%).
Directors
According to the 2025 annual accounts
Director · represented by Xavier Vercaemst
Also active at: HOTEL HELIOS PATRIMONIUM, ACCENT Hotels, ANDROMEDA INVEST, WESTHELLING, HOTEL HELIOS INVEST, Hotel Helios, UPSTAIRS OOSTENDE PATRIMONIUM, UPSTAIRS OOSTENDE UITBATING +5 more
since 2023 · until 2029
Director · represented by Jan Dobbelaere
Also active at: Belcoast Holidays, HOTEL HELIOS INVEST, UPSTAIRS OOSTENDE PATRIMONIUM, CONTINENTAL DE PANNE UITBATING, SKY HOTEL REAL ESTATE, BRICKS INVEST, BELCOAST HOLIDAY HOMES, OSTENDIAN +1 more
since 2023 · until 2029
Director · represented by Steve Degrieck
Also active at: BELFAS, KOBE PROJECTS, Groep Caenen Capital Fund, GROEP CAENEN CAPITAL FUND II, Eagle Fund I, GROEP CAENEN CAPITAL FUND III, EAGLE FUND II, SEAPARK +19 more
since 2023 · until 2029
Director · represented by Gregory Caenen
Also active at: IMMOBILIEN PROMOTIE EN BELEGGINGEN, GROEP CAENEN FINANCE, DE RA, MIDDELKERKSE IMMOBILIENMAATSCHAPPIJ, Groep Caenen Capital Fund, GROEP CAENEN CAPITAL FUND II, Eagle Fund I, GROEP CAENEN CAPITAL FUND III +19 more
since 2023 · until 2029
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Vakantiestraat 1
8434 Middelkerke
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0701.732.345
- VAT number
- BE 0701.732.345
- Registered office
- Vakantiestraat 1, 8434 Middelkerke
- Names & denominations
- HOTEL INVESTMENT FUND
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 August 2018
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Activiteiten van holdings
Holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Hotels en dergelijke accommodatie
Verhuur en exploitatie van terreinen
Overige zakelijke dienstverlening, neg
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